Maplin office staff go as fears grow for 2,500 shop workers

Administrators may be forced to 'initiate a controlled closure programme'

Published:21:52Thursday 08 March 2018

Administrators to collapsed electronics retailer Maplin have made 63 staff at the firm’s head offices redundant, as the fate of 2,500 more jobs hangs in the balance.

The group, owned by private equity firm Rutland Partners, called in PwC last week after attempts to rescue the chain failed.

Staff at Maplin’s offices in London and Rotherham will be affected by the cull, with the accountancy firm also warning that a buyer has yet to be found for the chain.

Toby Underwood, joint administrator and PwC partner, said: “It is with real regret that we have made this decision.

“We are grateful for the support of the employees during this difficult period and we will make every effort to help the affected staff, working with the Maplin HR team over the coming days.

“The company is continuing to trade but due to a lack of interest we may be required to initiate a controlled closure programme.”

A total of 2,500 jobs are at risk if a buyer cannot be found and Maplin’s 217 stores are shut.

At the time of the chain’s collapse, Maplin boss Graham Harris said the retailer has been struggling to mitigate the impact of the pound’s devaluation after the Brexit vote, a weak consumer environment and the withdrawal of credit insurance.

High street chains across the board have been hit hard by falling consumer spending, soaring inflation and competition from online rivals.

“We still believe there is strong value in the company and we remain focused on doing all we can to preserve the business while we continue trying to achieve a sale,” Mr Underwood added.